# BANCOMAT Pay > Source: https://docs.barcoder.ai/docs/standards/bancomat-pay > research date 2026-05-29 · extracted at 2026-10-06 > Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards Specifications: - [BANCOMAT S.p.A. — official](https://bancomat.it/en/) - [Bancomat Pay overview — HiPay](https://hipay.com/en/blog/bancomat-pay-solution/) - [Bancomat (interbank network) — Wikipedia](https://en.wikipedia.org/wiki/Bancomat_(interbank_network)) ## Overview **BANCOMAT Pay** is **Italy's leading mobile-payment system**, operated by **BANCOMAT S.p.A.** (the Italian bank-consortium-owned interbank network) in partnership with **SIA** (now part of Nexi Group) [1][1], [2][2], [Italy report](https://docs.barcoder.ai/docs/payments/IT). BANCOMAT Pay is the consumer-facing rebrand of what was earlier known as **Jiffy** — a 2014-era P2P payment service operated by SIA. The rebrand consolidated the offering under the well-recognised BANCOMAT brand (synonymous with cash machines and debit cards in Italy since the 1980s). By 2024, BANCOMAT Pay had **11+ million active users**, **385,000+ accepting merchants**, and **+45 % YoY transaction-volume growth** — making it Italy's dominant A2A mobile-payment app with **~31 % market share** of mobile-payment transactions [Italy report](https://docs.barcoder.ai/docs/payments/IT). The service is an **account-to-account (A2A)** solution that links a user's bank account (via IBAN or BANCOMAT card) to their **mobile phone number**, supporting **P2P, P2B (in-store + e-commerce), and P2G (PagoPA)** flows — a comprehensive coverage that few peer mobile-payment apps match in a single product. ## History **Background — Italy's BANCOMAT brand legacy** [3][3], [Italy report](https://docs.barcoder.ai/docs/payments/IT): - **BANCOMAT** (the brand) has been Italy's national debit-card network since **1983** — owned by a consortium of Italian banks via BANCOMAT S.p.A. - "BANCOMAT" entered Italian vernacular as the generic word for both ATMs and debit cards. - This brand recognition made it the natural vehicle for a mobile-payment rollout. **2014 — Jiffy launched by SIA** [1][1]: - SIA (Società Interbancaria per l'Automazione) launches **Jiffy** as Italy's first mobile P2P payment service. - ~5 million users acquired by Jiffy by the late 2010s. **BANCOMAT × SIA partnership and rebrand** [1][1], [2][2]: - BANCOMAT S.p.A. + SIA enter strategic partnership to consolidate digital-payment offerings. - Jiffy users migrated to the unified BANCOMAT Pay product. - Launch positioned as a **"new digital payment service for 37 million Italians"** — the ~37M BANCOMAT cardholders. **Service expansion** [2][2], [Italy report](https://docs.barcoder.ai/docs/payments/IT): - **P2P** (peer-to-peer money transfer). - **P2B** (in-store + e-commerce purchases). - **P2G** (payments to public administration via **PagoPA**). - Mobile-number-addressed transfers (no IBAN entry). - Biometric authentication. **SIA → Nexi merger** [2][2]: - SIA merged into Nexi Group; BANCOMAT Pay's technical platform now sits within Nexi's broader European payment infrastructure. **Visa partnership** [1][1]: - BANCOMAT + Visa announced a pilot project to **extend BANCOMAT Pay functionality** — suggesting future cross-border / network-card integration. **2024 — 11M+ users, 385K+ merchants** [2][2], [Italy report](https://docs.barcoder.ai/docs/payments/IT): - Transaction volumes **+45 % YoY**. - ~31 % share of Italian mobile-payment transactions. ## Technical specification BANCOMAT Pay is **an A2A mobile payment platform** [1][1], [2][2]: | Layer | Description | |---|---| | **Operator** | **BANCOMAT S.p.A.** (Italian bank consortium) + Nexi (former SIA) | | **Underlying account model** | A2A — IBAN or BANCOMAT card linked to mobile number | | **Settlement** | Via Italian instant-payment infrastructure (TIPS-eligible) | | **Currency** | EUR | | **Identifier** | Mobile phone number | | **Authentication** | Biometric (Face ID, fingerprint) or PIN | | **QR support** | Customer scans QR displayed on payment terminal / checkout | **QR flow at POS** [2][2]: - Customer scans QR displayed on the payment terminal or checkout system. - Customer validates payment on their device via biometrics or PIN. - Transaction confirmed on both the app and the terminal. **Flows supported** [2][2]: - **P2P** — peer-to-peer. - **P2B in-store** — QR scan at POS. - **P2B e-commerce** — online checkout via BANCOMAT Pay button. - **P2G** — payments to public administration via [PagoPA QR](https://docs.barcoder.ai/docs/standards/pagopa-qr) (PagoPA) platform. **Underlying rail** [Italy report](https://docs.barcoder.ai/docs/payments/IT): - Italian instant payments via **TIPS** (TARGET Instant Payment Settlement) — operated by Banca d'Italia. ## Use cases **P2P transfers** [2][2], [Italy report](https://docs.barcoder.ai/docs/payments/IT): Splitting bills, paying friends. Phone-number-addressed. **Retail POS payments** [2][2]: 385,000+ Italian merchants accept BANCOMAT Pay via QR scan at terminal. **E-commerce checkout** [2][2]: BANCOMAT Pay button on Italian merchant sites — A2A payment without entering card details. **Public-administration payments (PagoPA)** [2][2], [Italy report](https://docs.barcoder.ai/docs/payments/IT): Pay government fees, taxes, and other public-sector charges via PagoPA platform — BANCOMAT Pay is a registered PSP within PagoPA. **Cross-bank reach** [Italy report](https://docs.barcoder.ai/docs/payments/IT): Works with ~37M Italians who hold a BANCOMAT card — essentially Italy's entire retail-banking customer base. ## Implementations & ecosystem **Operator**: **BANCOMAT S.p.A.** (bank consortium). **Technical partner**: **Nexi** (former SIA, now Nexi Group). **Major bank shareholders**: Italian banks (Intesa Sanpaolo, UniCredit, others). **Italian payment ecosystem context** [Italy report](https://docs.barcoder.ai/docs/payments/IT): - **TIPS** (Banca d'Italia) — instant rail. - **PagoPA** — public-sector payments platform. - **MyBank** — competing online-banking-redirect payment scheme. - **Satispay** — competing P2P + merchant payment app. - **Apple Pay / Google Pay** — NFC competitors. **No public open-source SDK** identified specifically for BANCOMAT Pay; merchant integration via Nexi's developer platform. ## Fun facts - **BANCOMAT brand legacy since 1983**: The BANCOMAT name has been synonymous with ATMs and debit cards in Italy for over 40 years — a brand-recognition asset few national mobile-payment products possess. - **+45 % volume growth in 2024**: Among the faster-growing European mobile-payment platforms — outpacing several larger peers. - **Jiffy → BANCOMAT Pay rebrand**: An interesting case study in **leveraging legacy brand equity** rather than building a new digital brand. Compare with [Bizum](https://docs.barcoder.ai/docs/standards/bizum) (built from scratch as a bank-consortium brand) and [Wero](https://docs.barcoder.ai/docs/standards/wero) (built fresh by EPI). - **37 million BANCOMAT cardholders = addressable market**: Italy has ~37M debit-card holders; BANCOMAT Pay's 11M users represents ~30 % penetration — substantial headroom remaining. - **A2A model** (not card-network-mediated): Unlike Apple Pay/Google Pay/PayPal (which sit on top of card rails), BANCOMAT Pay is direct A2A via Italian instant rails — lower cost structure per transaction. - **Visa pilot for extended functionality**: BANCOMAT × Visa partnership signals an interesting hybrid future — A2A heritage + card-network reach. - **Multi-flow comprehensiveness**: BANCOMAT Pay covers P2P + P2B (in-store) + P2B (online) + P2G in a single product — broader than many national peers that focus on one or two flows. - **Italy's 31 % mobile-payment market share leader**: In a competitive market with Satispay, Apple Pay, Google Pay, and bank-specific apps, BANCOMAT Pay's leadership reflects the BANCOMAT brand's stickiness. ## Comparison | Feature | BANCOMAT Pay (IT) | [Bizum](https://docs.barcoder.ai/docs/standards/bizum) (ES) | [Wero](https://docs.barcoder.ai/docs/standards/wero) (EU) | [MB WAY QR](https://docs.barcoder.ai/docs/standards/mb-way-qr) (PT) | Satispay (IT, competitor) | |---|---|---|---|---|---| | Launch | Rebranded from Jiffy (mid-2010s) | Oct 2016 | Jun 2024 | 2014 | 2013 | | Operator | BANCOMAT S.p.A. + Nexi | Bizum SL (banks) | EPI (banks) | SIBS (PT banks) | Satispay (independent fintech) | | Users | 11M+ (2024) | ~24M | New | ~4M | Several million | | Merchants | 385K+ | ~700K | New | n/a | Several hundred thousand | | YoY growth (2024) | +45 % | n/a | n/a | n/a | n/a | | Flows | P2P + P2B + P2G | P2P + P2B + P2G | P2P + P2B | P2P + P2B + P2G | P2P + P2B | | Underlying rail | TIPS / Italian instant | Iberpay SCT Inst | EPC SCT Inst | SIBS instant | Direct A2A | **Closest peer**: [Bizum](https://docs.barcoder.ai/docs/standards/bizum) — both are bank-consortium A2A products in major Southern European markets, both cover P2P/P2B/P2G, both leverage existing national instant rails. **Structural distinction**: BANCOMAT Pay's **brand legacy** is unique — built atop a 40-year-old recognised brand rather than as a fresh digital brand. ## Status **Active, growing rapidly** [2][2], [Italy report](https://docs.barcoder.ai/docs/payments/IT): - **11+ million active users**. - **385,000+ accepting merchants**. - **+45 % YoY** transaction volume (2024). - **~31 % Italian mobile-payment market share**. - **Operated by BANCOMAT S.p.A. + Nexi**. - **Multi-flow**: P2P + P2B + P2G via PagoPA. **Outlook**: Continued growth driven by Italian instant-payment adoption broadly, possible cross-border integration via Nexi's pan-European reach, and likely expansion of Visa partnership to card-network-backed scenarios. ## Sources [1]: https://bancomat.it/en/ "BANCOMAT S.p.A." [2]: https://hipay.com/en/blog/bancomat-pay-solution/ "Bancomat Pay overview — HiPay" [3]: https://en.wikipedia.org/wiki/Bancomat_(interbank_network) "Bancomat — Wikipedia" - [1] [BANCOMAT S.p.A. — official][1] - [2] [Bancomat Pay overview — HiPay][2] - [3] [Bancomat (interbank network) — Wikipedia][3] - [Italy report](https://docs.barcoder.ai/docs/payments/IT) `reports/countries/IT-italy.md` ## Deployments Found in the following country reports (grep across `reports/countries/`): - **IT** — [IT-italy.md](https://docs.barcoder.ai/docs/payments/IT)